Business
Final Results
Final Results.
About this update from Custodian Property Income Reit Plc
[{"type":"text","content":"\n \n\n\nCustodian REIT plc (CREI)\n\n\n\nCustodian REIT plc : Final Results17-Jun-2022 / 07:00 GMT/BSTDissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group.The issuer is solely responsible for the content of this announcement.\n\n\n \n\n \n\n \n\n17 June 2022\n\n \n\n \n\nCustodian REIT plc\n\n \n\n(“Custodian REIT” or “the Company”)\n\n \n\nFinal Results\n\n \n\n \n\nCustodian REIT (LSE: CREI), the UK commercial real estate investment company, today reports its final results for the year ended 31 March 2022.\n\n \n\nProperty strategy\n\n \n\nCustodian REIT offers investors the opportunity to access a diversified portfolio of UK commercial real estate providing an attractive level of income and the potential for capital growth, becoming the REIT of choice for private and institutional investors seeking high and stable dividends from well-diversified UK real estate. The Company’s portfolio is focused on smaller lots, principally targeting properties of less than £10m at acquisition, which offers:\n\n \n\nAn enhanced yield on acquisition – with no need to sacrifice quality of property/location/tenant for income and with a greater share of value in ‘bricks and mortar’;\n Greater diversification – spreading risk across more assets, locations and tenants and offering more stable cash flows; and\n A higher income component of total return – driving out-performance with forecastable and predictable returns.\nFinancial highlights and performance summary \n\n \n\n\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 2022\n \n \n 2021\n \n \n Comments\n \n \n Returns\n \n \n \n \n \n \n \n \n \n \n \n EPRA[1] earnings per share[2]\n \n \n 5.9p\n \n \n 5.6p\n \n \n Increased due to stabilisation of rent collection following the COVID-19 pandemic, with a £0.3m decrease in the doubtful debt provision during the year (2021: £2.7m increase)\n \n \n Basic and diluted earnings per share[3]\n \n \n 28.5p\n \n \n 0.9p\n \n \n \n \n \n Profit before tax (£m)\n \n \n 122.3\n \n \n 3.7\n \n \n \n \n \n Dividends per share[4]\n \n \n 5.25p\n \n \n 5.0p\n \n \n Target dividend per share for the year ended 31 March 2022 of not...